For Traders

Analytical Reviews

Technical analysis

24.05.202204:42 Forex Analysis & Reviews: Forecast for GBP/USD on May 24, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The pound added 90 points yesterday. The 1.2637 target level has not been reached, but the potential has not been exhausted, as the Marlin Oscillator indicates a reversal only symbolically. The downward mood may heighten during the day, so we can only follow the development of the situation on lower charts. Leaving the 1.2436/76 range will complete the correction and the pound will continue to decline to the target levels of 1.2250 and 1.2073.

A price divergence with an oscillator is re-formed on the H4 chart. The oscillator's departure under the zero line will strengthen the reversal-downtrend.

So, either from the current levels, or from the 1.2637 area, we are waiting for the price to move to the nearest target range of 1.2436/76.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.